Mitsubishi UFJ postpones AT1 bond issuance after Credit Suisse wipeout: report
It plans to issue by late April or mid-May instead, according to a spokesperson.
Mitsubishi UFJ Financial Group is postponing the issuance of Additional Tier 1 bonds to mid-May or late April, a spokesperson said.
Mitsubishi UFJ reportedly decided on the postponement taking into account investor appetite and market conditions, the spokesperson said.
ALSO READ: MUFG Bank signs BTNZ as first client for green deposits product in New Zealand
Sources told Reuters that Mitsubishi UFJ and Sumitomo Mitsui Financial Group Inc may put April issuance on hold amidst the volatility following Credit Suisse’s wipeout of billions of AT1 bonds.
AT1 bonds can be converted into equity or written off if a bank's capital level falls below a certain threshold.
Read more from Reuters:
Read Here
Advertise
Sign Up
